This page (revision-24) was last changed on 26-Nov-2021 10:22 by kparrott

This page was created on 26-Nov-2021 10:22 by JMyers

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Version Date Modified Size Author Changes ... Change note
24 26-Nov-2021 10:22 26 KB kparrott to previous
23 26-Nov-2021 10:22 25 KB rforbes to previous | to last
22 26-Nov-2021 10:22 25 KB jmyers to previous | to last
21 26-Nov-2021 10:22 26 KB JMyers to previous | to last

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USING SALARY RATE METHODS
USING SALARY RATE METHODS

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At line 28 changed one line
SM/MO clients will be able to use the retro program. Please note that from the time the client changes the set up from ‘generating salary’ to ‘generating hours ONLY’. The previous pay lines are salary based and Retro will not function properly.
SM/MO clients will be able to use the retro program.
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%%information Please note that from the time the client changes the set up from ‘generating salary’ to ‘generating hours ONLY’,the previous pay lines are salary based and Retro will not function properly.%%
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There is a new column (Salary Rate Method) at the ‘PC Detail’ level that controls the manner in which the wage rate is computed. The column has two values that invoke logic. It is IMPORTANT to use this set up ONLY for employees that are salaried and paid either monthly or Semi-Monthly. If you are using the same Pay Component for both Hourly and Salaried Employees, then you will require separate PC Rules Sets for each.
The Salary Rate Method column on [IPPC] in the ‘PC Detail’ level controls the manner in which the wage rate is computed. The column has two values that invoke logic. It is IMPORTANT to use this set up ONLY for employees that are salaried and paid either monthly or semi-monthly. If you are using the same pay component for both hourly and salaried employees, then you will require separate PC Rules Sets for each.
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The exact days that an employee is scheduled to work is determined by the ‘Work Calendar’ associated with the assignment record.
The exact days that an employee is scheduled to work is determined by the work calendar associated with the assignment record.
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22 days at 8 hours per day = 176 hours in the period
A monthly salary of 3,000 would provide an hourly rate of $17.05 in the month.
When the employee is hired, terminated, or has a mid-period rate change, the month wage is computed by taking the daily rate and extending it by standard hours.
22 days at 8 hours per day = 176 hours in the period\\
A monthly salary of 3,000 would provide an hourly rate of $17.05 in the month.\\
When the employee is hired, terminated, or has a mid-period rate change, the month wage is computed by taking the daily rate and extending it by standard hours.
At line 65 changed 3 lines
Employee is paid 3,000/Month and gets an increase on March 14th to 3,500.
11 working days at (3,000/22) * 11 = $1500.00
11 working days at (3,500 / 22) * 11 = $1750.00
Employee is paid 3,000/month and gets an increase on March 14th to 3,500.\\
11 working days at (3,000/22) * 11 = $1500.00\\
11 working days at (3,500/22) * 11 = $1750.00\\
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!!Variable Rate (Element)
The key to computation of the variable rate is to divide the semi monthly wage by a number of hours. The hours will be determined by the creation of an element which will hold the pay components to be used in determination of the number of hours worked in this pay period. The Variable Hours element may be a simple or compound element, defined on [IPPE].
!!Variable Rate (Element)
The key to computation of the variable rate is to divide the semi-monthly wage by a number of hours. The hours will be determined by the creation of an element which will hold the pay components to be used in determination of the number of hours worked in this pay period. The Variable Hours element may be a simple or compound element, defined on [IPPE].
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Scenarios
#Employee works the same position throughout the period\\ \\Wage rate is determined on a semi month basis through the usual annualization routine. Hours worked are computed by summing pay lines in this period for the pay components included in the Variable Hours element.\\ \\Variable Rate = Semi Month wage divided by total hours included in this element.
#Employee changes rate in mid period\\ \\Wage rate is pro-rated based upon number of days in the period that the employee is at each wage. Variable rates are computed independently for each period (pro rata).\\ \\Wage Rate 1 = semi month wage * (# days at this wage rate / # days in period)\\ \\Wage Rate 2 = semi month wage * (# days at this wage rate / # days in period)\\Hours worked are computed independently for each wage period by summing pay lines as noted above.\\ \\Variable Rate 1 = Wage Rate 1 / hours worked in period 1\\ \\Variable Rate 2 = Wage Rate 2 / hours worked in period 2
!Scenarios
#Employee works the same position throughout the period\\ \\Wage rate is determined on a semi-monthly basis through the usual annualization routine. Hours worked are computed by summing pay lines in this period for the pay components included in the Variable Hours element.\\ \\Variable Rate = Semi Month wage divided by total hours included in this element.
#Employee changes rate in mid period\\ \\Wage rate is pro-rated based upon number of days in the period that the employee is at each wage. Variable rates are computed independently for each period (pro rata).\\ \\Wage Rate 1 = semi month wage * (# days at this wage rate / # days in period)\\ \\Wage Rate 2 = semi month wage * (# days at this wage rate / # days in period)\\Hours worked are computed independently for each wage period by summing pay lines as noted above.\\ \\Variable Rate 1 = Wage Rate 1 / hours worked in period 1\\ \\Variable Rate 2 = Wage Rate 2 / hours worked in period 2.
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Sample Pay Line Detail Audit Text
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!Sample Pay Line Detail Audit Text
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22 Scheduled Shifts
Standard hours (From [IEAS]) = 8.5
Monthly Salary of $3,000
Hourly Rate $16.0428 = $3000 / 22 / 8.5
When the employee is hired, terminated, or has a mid-period rate change, this formula is NOT used and the system reverts to the ‘Variable Rate Hours’ method.
22 Scheduled Shifts \\
Standard hours (From [IEAS]) = 8.5\\
Monthly Salary of $3,000\\
Hourly Rate $16.0428 = $3000 / 22 / 8.5\\ \\When the employee is hired, terminated, or has a mid-period rate change, this formula is NOT used and the system reverts to the ‘Variable Rate Hours’ method.
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Month 01-Sep-2005 to 30-Sep-2005
Employee Hired on 18-Sep-2004
Range Begin 01-Sep-2005
Range End 30-Sep-2005
EE is TM Scheduled, Using 'Variable Rate (Shifts/Month) Method'
Number of Scheduled Shifts in Sep-2005 ==> 22
Month 01-Sep-2005 to 30-Sep-2005\\
Employee Hired on 18-Sep-2004\\
Range Begin 01-Sep-2005\\
Range End 30-Sep-2005\\
EE is TM Scheduled, Using 'Variable Rate (Shifts/Month) Method'\\
Number of Scheduled Shifts in Sep-2005 ==> 22\\
This page (revision-24) was last changed on 26-Nov-2021 10:22 by kparrottTop